Salvador said that China is willing to make funds for its bad foreign debt

Vice President Salvador said that China proposed to help this Chinese American country reinterpreting deep foreign debt.

According to Bloomberg, Salvado Vice President Felix Ulloa (November 7) said in a gap in Madrid on Monday (November 7): "China has proposed to buy all our debts, But we need to do cautiously. We will not sell it as soon as someone bids, and we need to look at the conditions. "

Although he did not explain further, it implied that Salvador would continue to try to avoid direct breach of US dollar debt.

Bloomberg reports that it is unclear how China's proposal is operating, but China may provide some form of financing to Salvador so that the country can repurchase debts from the bond holders.

Salvador has bought some bonds and promised to continue to repurchase.Wulieya said that the goal was to repurchase more bonds in January.

"The budget department and the central bank are preparing the conditions for the second repurchase," he said that Salvador may use the special withdrawal right (SDR) of the International Monetary Fund (IMF) for repurchase funds.